JWA 2021 Jewellery Industry Best Practices

90 | Jewellery World Awards 2021 Shenzhen Xingguangda Jewelry Industrial Co Ltd CATEGORIES: By focusing on long-term goals that add to its brand value, Shenzhen Xingguangda Jewelry Industrial Co Ltd was able to increase revenues and production, lower manufacturing costs and minimise its environmental impact – all as it battled the adverse effects of the pandemic. INDUSTRY INNOVATION OF THE YEAR To fortify itself against COVID-19, Xingguangda developed a vertically integrated system that streamlined its processes and further refined its operations. “In 2020, we rolled out an initiative that strengthened our core as a business. We upgraded our digital platforms, which allowed us to fulfil business functions such as sales, inventory management, online learning and even in linking together our offline assets,” says Chairman Changwei Lin, whose company manufacturers jewellery for more than 1,000 brands. To better manage its supply chain, Xingguangda invested in research and development to create intelligent and flexible production lines, launched an online ordering centre called Gemstone Jewellery Steward, and established its central warehouse platform named Jubaohui. The company also invested US$3.25 million to equip its 1,500sqm manufacturing base with large hydraulic presses, 20 core-moving machines, four engraving machines, 80 CNC machine tools and manipulator arms, and a slew of other devices that contributed to its Industry Innovation of the Year Outstanding ESG Performance of the Year COUNTRY / REGION: CHINA 1 2